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Need Versus Greed
NEW YORK – India’s great moral leader Mohandas Gandhi famously said that there is enough on Earth for everybody’s need, but not enough for everybody’s greed. Today, Gandhi’s insight is being put to the test as never before.
The world is hitting global limits in its use of resources. We are feeling the shocks each day in catastrophic floods, droughts, and storms – and in the resulting surge in prices in the marketplace. Our fate now depends on whether we cooperate or fall victim to self-defeating greed.
The limits to the global economy are new, resulting from the unprecedented size of the world’s population and the unprecedented spread of economic growth to nearly the entire world. There are now seven billion people on the planet, compared to just three billion a half-century ago. Today, average per capita income is $10,000, with the rich world averaging around $40,000 and the developing world around $4,000. That means that the world economy is now producing around $70 trillion in total annual output, compared to around $10 trillion in 1960.
China’s economy is growing at around 10% annually. India’s is growing at Read more…
IMF says weaker dollar would help global growth
AFP – The International Monetary Fund called for a weaker dollar to help the United States reduce its deficits with the rest of the world and rebalance the global economy, in a report released Wednesday.
In the report prepared for a Group of 20 finance chiefs meeting last week, the IMF said that its calculations showed the dollar remains “on the strong side” of medium-term fundamentals, while the euro and the Japanese yen were “broadly in line” and several Asian currencies, including China, were undervalued.
To address global imbalances, the G20 should allow the dollar to Read more…
Population, Food, Oil … Collision?
World population and growth
Factoring the net birth minus death rate in the world each year, the annual increase to world population is about 75 million people. The current world population is about 6,900,000,000, or 6.9 billion.
Annually, we add to the planet the equivalent population of any of the following scenarios,
- New York City (9 of them!)
- Los Angeles (20 of them!)
- Chicago (27 of them!)
- San Francisco (94 of them!)
- Boston (117 of them!)
- Unites States of America (25 percent of the country!)
When you think about it, this is a startling number. And that’s in just one Read more…
Argentina accuses US of trying to smuggle weapons into country
Diplomatic row over cargo US claims was intended for training program further sours already poor relationship
Relations between the US and Argentina have deteriorated after Buenos Aires lodged a formal complaint over a US military plane that landed late last week carrying guns, drugs and satellite phones.
The Argentinian government claimed the US was trying to sneak the weapons into the country, though it didn’t offer an explanation of why Washington might want to do this.
The US state department said the consignment was intended for a police training program in Argentina.
Officials from Argentina and the state department have been in talks aimed at resolving the row.
The relationship between the two countries has been poor since Barack Obama released details of a Latin American tour next month that includes Brazil, Chile and El Salvador but not Argentina.
The Argentinian foreign ministry, in a statement on Sunday night, said “sensitive material” had been seized that had not been declared on the inventory submitted by the US embassy, including weapons, GPS equipment and drugs such as morphine. Read more…
China sees U.S. stoking Brazil and India anger over yuan
By Zhou Xin and Koh Gui Qing
BEIJING (Reuters) – The United States has incited Brazil and India to criticize China’s currency policy, but Beijing need not worry too much because it can defuse the tension through talks, a series of Chinese government advisers told Reuters.
Independent analysts warned, however, that a belief that Brazil and India are doing Washington’s bidding and are not truly aggrieved could make Beijing complacent and undermine fledgling ties between the emerging powers.
Increasingly widespread calls for a stronger yuan are awkward for China, which is accustomed to facing U.S. pressure over its tightly controlled exchange rate but has long tried to cast itself as the natural ally of other developing nations.
Brazil and India are unlikely to be any more successful than the United States in persuading Beijing to permit faster appreciation, researchers in Chinese government think tanks said.
“They must realize that the root of problem is not China but Read more…
Russian volcano activity causes global concern
Now the world has something else to grip about when it comes to Russia – the weather.
A string of volcanoes on Russia’s eastern seaboard of Kamchatka have been unusually active for the last six months. The dust they threw up diverted winds in the Arctic, pushing cold air over Europe and North America and causing the unusually cold winter this year, say scientists.
The volcanoes (160 in total, of which 29 are active) are still on the go and could create more problems this year, depressing harvests around the world just as global food prices soar and Read more…
CO2 Fears After Amazon Rainforest Droughts
Two severe Amazon droughts have sparked fears that the rainforest’s ability to absorb carbon emissions is being diminished – and, worse still, it may soon release almost as much CO2 as the US.
A rare drought in 2005 – billed as a once-in-a-hundred-years event – was then followed by another drought in 2010 that may have been even worse, according to a study by a team of British and Brazilians scientists in the journal Science.
With a huge number of trees dying as a result of the droughts, the scientists predict that the Amazon will not be able to absorb as much carbon dioxide from the atmosphere as usual in future.
This would remove an important global buffer against pollution.
Even worse, rotting trees may release into the atmosphere as much as five billion tons of C02 in the coming years.
That would be almost as much as the 5.4 billion tons emitted from fossil fuel use by the US in 2009.
Based on the impact of the dry spell on tree deaths in 2005, the team projected that Read more…
Soros says Israel is “main stumbling block” in Mideast
The Arab liberation revolution will fundamentally change the Middle East. The acceleration of the West’s decline will change the world. One outcome will be a surge toward China, Russia and regional powers like Brazil, Turkey and Iran. Another will be a series of international flare-ups stemming from the West’s lost deterrence. But the overall outcome will be the collapse of North Atlantic political hegemony not in decades, but in years. When the United States and Europe bury Mubarak now, they are also burying the powers they once were. In Cairo’s Tahrir Square, the age of Western hegemony is fading away.
Egypt is more complex and, ultimately, more influential, which is why it is so important to get it right. The protesters are very diverse, including highly educated and Read more…
South Africa: Floods kill 120 and destroy crops
JOHANNESBURG, South Africa — South Africa is reeling from unusually heavy rainfall that has caused flooding in many parts of the country, wiping out crops in what is the continent’s main breadbasket.
More than 120 people have been killed in the thunderstorms and flooding since mid-December, and some 20,000 people are in need of assistance. The South African government has declared disaster areas in eight of its nine provinces.
And it’s not over yet. Above-average rainfall is forecast for South Africa and neighboring countries for the next few months.
Much of southern Africa is now on flood alert, including Mozambique, where at least 13 people have died from floods and thousands have fled their homes for higher ground. Namibia, Botswana, Zimbabwe and Zambia are also on alert for flooding.
While this is the annual rainy season in southern Africa, the heavier than usual rainfall has been blamed on La Nina, the weather pattern behind the severe flooding in other southern hemisphere countries including Australia, Brazil and the Philippines.
In South Africa, the government has put the flood damage at $211 million, but this is an early estimate and expected to rise. At least Read more…
Brazil mourns as flood toll tops 600
BRAZIL has declared three days of mourning for at least 610 people killed near Rio de Janeiro in the country’s worst flood disaster.
Emergency workers in the disaster zone, in the Serrana region just north of Rio, were overwhelmed by the body count. Refrigerator trucks were brought in to store corpses.
Workers transporting bodies said they feared the death toll from last Wednesday’s floods and mudslides could top 1000 as rescuers reached outlying hamlets.
An estimated 14,000 people were assisted by rescue workers or lost their homes in the Serrana area towns hardest hit about 100 kilometres from coastal Rio, civil defence figures showed.
The hardest-hit town was Nova Friburgo, where 274 people were killed. Nearby Teresopolis had 263 dead, 55 were killed in Petropolis and 18 lost their lives in Sumidouro, officials said.
Workers transporting bodies said they feared the death toll could more than double. President Dilma Rousseff declared three days of mourning, government news agency Agencia Brasil reported. Rio de Janeiro state authorities said their state would observe a week of mourning. ”I think in the end we’ll see more than 1000 bodies,” a funeral worker said.
Authorities made an urgent appeal for blood, bottled water, food and medicine.
At least four refrigerated trucks were outside an overflowing makeshift morgue inside a church in Teresopolis.
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